- Trading Screen Product Name
- EUA Daily Futures
- Trading Screen Hub Name
- EUA Daily
- Contract Symbol
ECP
- Contract Series
The Contract is a daily contract. Only one daily contract is listed
at any one time.
- Contract Size
One lot of 1000 EUAs. Each EUA being an Allowance which is an
entitlement to emit one tonne of carbon dioxide equivalent gas.
- Unit of Trading
Allowance(s). An EUA Daily Futures contract for the purposes of
trading and delivering Allowances within the meaning of Chapter II
and Chapter III of Directive 2003/87/EC in accordance with the
Rules.
- Minimum Trading Size
Futures: 1 lot = 1,000 EUA Allowances
Exchange for Swap: 50 lots = 50,000 EUA Allowances
Block Order: 50 lots = 50,000 EUA Allowances
- Price Quotation
The Contract price is in Euros and Euro cents per metric
tonne
- Minimum Price Fluctuation
1 Euro Cent per tonne (€0.01/tonne)
- Tick Value
€10.00 per lot.
- Last Trading Day
Contracts will expire on a daily basis.
- Settlement Method
Physical Delivery
- Exchange Delivery Settlement Price
Will be the end of day Settlement Price on the Last Trading Day of
the contract.
- Delivery Terms
Each Clearing Member with a position open at cessation of trading
is obliged to make or take delivery of EUAs to or from a Trading
Account in accordance with the Rules.
- Delivery Period
Unless a Delivery Delay occurs, the EUA Delivery Period for the
selling Clearing Member is the period beginning at 09:00 (LLT) on
the Business Day following the Contract Date and ending at 15:00
hours (LLT) on the Business Day following the Contract Date. The
Clearing House will deliver to buying Clearing Member by 15:00
(LLT) on the second Business Day following the Contract Date.
Where a Delivery Delay occurs, the EUA Delivery Period shall end at
such later time as the Clearing House may direct, which in any
event shall not be a time beyond 15.00 hours (LLT) on the third
Business Day after the relevant Contract Date.
- Delivery Delay
In relation to EUA Daily Futures Contracts, is deemed to have taken
place where:
(i) in the case of a Seller other than the Clearing House, the
Seller initiates EUA Delivery after 15.00 hours (LLT) on the first
Business Day following the relevant Contract Date but on or before
15.00 hours (LLT) on the second Business Day following the relevant
Contract Date or such later time as the Clearing House may direct;
or
(ii) in case the Clearing House acts as a Seller, the Buyer's
Trading Account is credited after 15.00 hours (LLT) on the second
Business Day following the relevant Contract Date but on or before
15.00 hours (LLT) on the third Business Day following the relevant
Contract Date;
provided in each case, that an EUA Delivery Delay will cease to
exist in relation to a Contract where an EUA Delivery Failure
becomes applicable in relation to that Contract.
- Delivery Failure
In relation to EUA Daily Futures Contracts, is deemed to have taken
place where:
(i) in the case of a Seller other than the Clearing House, the
Seller has failed to make a valid request for EUA Delivery for an
EUA Delivery Period by 15.00 hours (LLT) on the second Business Day
after the last day of trading; or
(ii) in the case of a Buyer being the Clearing House, the
Buyer’s Trading Account has not been credited by 15.00 hours
(LLT) on the second Business Day after the last day of trading; or
(iii) in the case of a Buyer other than the Clearing House, the
Buyer’s Trading Account has not been credited by 15.00 hours
(LLT) on the third Business Day after the last day of trading; or
(iv) in the case of a Seller being the Clearing House, the
Buyer’s Trading Account has not been credited by 15.00 hours
(LLT) on the third Business Day after the last day of trading.
- MIC Code
- NDEX
- Clearing Venues
- ICEU